gunDriller
13th May 2012, 01:03 PM
The rationale for the $ part of this plan is spelled out real well on Zero Hedge.
Most of us here DETEST the US $, and the banksters who created it & continue to manipulate it.
But the logic in this guy's editorial is pretty good.
PART 1 - Go Iceland, in Greece.
That is, Default. Self-explanatory. Fvck the Banksters.
PART 2 - Use US $ as the Greek Currency.
http://www.zerohedge.com/news/guest-post-crazy-idea-might-just-work-greeces-new-currency-us-dollar
"Here's the beauty of Greece accepting the dollar: since Greece cannot print dollars, then everyone will know the currency cannot be depreciated by the Greek state. If Greece can print drachmas in unlimited quantities, then the drachma will quickly lose whatever value it begins with. In contrast, regardless of the policies of the state or central bank of Greece, the dollar will still have the same value day to day.
All euros in accounts would convert to dollars.
This will immediately restore trust and trade, both domestically and internationally, as everyone will know the U.S. dollar will retain its value everywhere.
Does Greece need U.S. approval to take the dollar as its interim currency? No--the dollar is ubiquitous and in sufficient quantity that there are enough physical dollars floating around the world to serve as the currency for a small nation such as Greece. It would help if the U.S. accepted Greece's choice, but American acceptance would be optional."
Part 3. Silver Backed Drachma.
49 years ago, Greece came out with a beautiful commemorative coin similar in size to the Franklin Half Dollar.
If they did it once, they could do it again - and just in time for the 150 year anniversary of Greece in 2013.
http://i.ebayimg.com/00/$%28KGrHqF,!ikE4s%28-oIFhBOU6gTo+Kw~~48_35.JPG
30 Drachma, about $10, which bought a lot in 1963. I lived there in 1971 and you could get loaves of REALLY good bread from Greek bakeries for a drachma or less.
OK, then there is the question of, where do they get the $ ?
If I was Greek finance minister, I would use the 100 tons of gold that Greece has to help with the transition. For example, sell 50 tons to buy $, and put them into circulation. Then convert 50 tons to silver, which would be about 2500 tons of silver - good resource to have.
I would probably also think selfishly of Greek survival, and beg/ borrow/ steal money from 3 sources -
1. The US.
The US has a big Air Force base in Greece. Greece should charge rent for supporting the US MIC.
2. Israel, Syria, Iran, China.
Being directly North of Israel, if Greece were to become friendly with Hezbollah for example, Israel would not like it. A skilled Greek minister could play the various nations off against each other to raise liquid assets for Greece.
3. The EU. Borrow money, promise to pay them back. Use the money to buy gold and/ or silver. Then tell them, "Oh, ah, we default. Sorry !"
So what would you guys do if you were in the impossible position of fixing Greece's finances ? ... bearing in mind that they have a lot of nice beaches and it's not totally polluted.
Most of us here DETEST the US $, and the banksters who created it & continue to manipulate it.
But the logic in this guy's editorial is pretty good.
PART 1 - Go Iceland, in Greece.
That is, Default. Self-explanatory. Fvck the Banksters.
PART 2 - Use US $ as the Greek Currency.
http://www.zerohedge.com/news/guest-post-crazy-idea-might-just-work-greeces-new-currency-us-dollar
"Here's the beauty of Greece accepting the dollar: since Greece cannot print dollars, then everyone will know the currency cannot be depreciated by the Greek state. If Greece can print drachmas in unlimited quantities, then the drachma will quickly lose whatever value it begins with. In contrast, regardless of the policies of the state or central bank of Greece, the dollar will still have the same value day to day.
All euros in accounts would convert to dollars.
This will immediately restore trust and trade, both domestically and internationally, as everyone will know the U.S. dollar will retain its value everywhere.
Does Greece need U.S. approval to take the dollar as its interim currency? No--the dollar is ubiquitous and in sufficient quantity that there are enough physical dollars floating around the world to serve as the currency for a small nation such as Greece. It would help if the U.S. accepted Greece's choice, but American acceptance would be optional."
Part 3. Silver Backed Drachma.
49 years ago, Greece came out with a beautiful commemorative coin similar in size to the Franklin Half Dollar.
If they did it once, they could do it again - and just in time for the 150 year anniversary of Greece in 2013.
http://i.ebayimg.com/00/$%28KGrHqF,!ikE4s%28-oIFhBOU6gTo+Kw~~48_35.JPG
30 Drachma, about $10, which bought a lot in 1963. I lived there in 1971 and you could get loaves of REALLY good bread from Greek bakeries for a drachma or less.
OK, then there is the question of, where do they get the $ ?
If I was Greek finance minister, I would use the 100 tons of gold that Greece has to help with the transition. For example, sell 50 tons to buy $, and put them into circulation. Then convert 50 tons to silver, which would be about 2500 tons of silver - good resource to have.
I would probably also think selfishly of Greek survival, and beg/ borrow/ steal money from 3 sources -
1. The US.
The US has a big Air Force base in Greece. Greece should charge rent for supporting the US MIC.
2. Israel, Syria, Iran, China.
Being directly North of Israel, if Greece were to become friendly with Hezbollah for example, Israel would not like it. A skilled Greek minister could play the various nations off against each other to raise liquid assets for Greece.
3. The EU. Borrow money, promise to pay them back. Use the money to buy gold and/ or silver. Then tell them, "Oh, ah, we default. Sorry !"
So what would you guys do if you were in the impossible position of fixing Greece's finances ? ... bearing in mind that they have a lot of nice beaches and it's not totally polluted.